Nucor Corporation (NYSE:NUE) Announces Quarterly Dividend of $0.56

Nucor Corporation (NYSE:NUE) announced a quarterly dividend on Friday, September 18th. Investors of record on Wednesday, September 30th will be given a dividend of 0.56 per share by the basic materials company on Tuesday, November 10th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 30th.

Nucor has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 52 consecutive years. Nucor has a dividend payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nucor to earn $20.32 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 11.0%.

Nucor Trading Down 6.1%

Shares of NUE stock traded down $16.11 during trading hours on Friday, reaching $249.03. The company’s stock had a trading volume of 3,194,489 shares, compared to its average volume of 1,579,805. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor has a one year low of $131.32 and a one year high of $280.11. The stock has a market capitalization of $56.50 billion, a P/E ratio of 19.86, a P/E/G ratio of 0.94 and a beta of 1.87. The firm’s fifty day simple moving average is $254.52 and its 200 day simple moving average is $226.67.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the company posted $2.60 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. Equities research analysts expect that Nucor will post 18.52 EPS for the current year.

Insider Buying and Selling

In other news, EVP Thomas Batterbee sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Nucor

Institutional investors and hedge funds have recently modified their holdings of the company. Transamerica Financial Advisors LLC purchased a new position in Nucor in the second quarter worth about $25,000. Manning & Napier Advisors LLC bought a new position in shares of Nucor in the 2nd quarter worth approximately $27,000. Bell Investment Advisors Inc bought a new position in shares of Nucor in the 2nd quarter worth approximately $28,000. Markowski Investments purchased a new position in shares of Nucor in the second quarter worth approximately $29,000. Finally, Delos Wealth Advisors LLC bought a new stake in Nucor during the second quarter valued at approximately $41,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

About Nucor

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.